THE Minister of Finance and Treasury and Member of Parliament (MP) for Marovo, Western Province has clarified the country’s inflation rate, saying that in March it was positive.

According to Hon Rini, the Ministry of Finance and Treasury (MoFT) is monitoring the situation very closely.

Hon Rini made the statement when queried by the Chairman of the Public Accounts Committee (PAC) and Member of Parliament (MP) for Small Malaita, Hon Rick Hou.

Hon Hou questioned the Minister of Finance and Treasury based on the economic analysis from the Central Bank of Solomon Islands (CBSI) and presentations by ministry officials from the MoFT to the PAC on the negative inflation rate.

He then further questioned the measures the Ministry will be taking to address the issue.

Minister of Finance and Treasury, Hon Snyder Rini then disclosed on the floor of Parliament that his ministry will definitely be watching the situation closely.

Hon Rini then added that by mid-March this year, inflation rates came to a positive rate and fuel prices and consumer goods increased.

“Inflation rates increased in the second quarter of this year and is reflected in March,” said Hon Snyder Rini.